Yes a half a trillion dollars to keep these worthless markets propped up, remember no such thing as down markets...markets aren't allowed to correct....how could anyone possibly think this is going to work. All the markets in the world are distorted ...the only growth the world has left is worthless money printing and zero interest rates... China Unleashes $483 Billion to Stem the Market Rout Bloomberg By Heng XieJul 17, 2015 5:43 AM2015 China has created what amounts to a state-run margin trader with $483 billion of firepower, its latest effort to end a stock-market rout that threatens to drag down economic growth and erode confidence in President Xi Jinping’s government.China Securities Finance Corp. can access as much as 3 trillion yuan of borrowed funds from sources including the central bank and commercial lenders, according to people familiar with the matter. The money may be used to buy shares and provide liquidity to brokerages, the people said, asking not to be named because the information wasn’t public.More from Bloomberg.com: France's Hollande Proposes Creation of Euro-Zone GovernmentWhile it’s unclear how much CSF will ultimately deploy into China’s $6.6 trillion equity market, the financing is up to 25 times bigger than the support fund started by Chinese brokerages earlier this month. That’s probably enough to restore confidence among China’s 90 million individual investors, says Bocom International Holdings Co. The Shanghai Composite Index jumped 3.5 percent on Friday, capping a two-week rally that’s turned it into one of the world’s best-performing equity gauges.“It doesn’t have to use up all the money, as long as it can make the rest of the market believe that it has enough ammunition,” said Hao Hong, a China strategist at Bocom International in Hong Kong. “It is a game of chicken. For now, it seems to be working.”More from Bloomberg.com: How Does Tesla's 'Ludicrous Mode' Stack Up Against Bugatti, Lamborghini?Fighting PanicCSF, founded in 2011 to provide funding to the margin-trading businesses of Chinese brokerages, has transformed into one of the key government vehicles to combat a 32 percent selloff in the Shanghai Composite from mid-June through July 8. At 3 trillion yuan, its funding would be about five times bigger than the new proposed bailout for Greece and exceed China’s 2.3 trillion yuan of regulated margin financing during the height of the stock-market boom last month.“What the authorities are demonstrating to the market is that if panic does take hold, they have the resources at their disposal to deal with that,” said James Laurenceson, the deputy director of the Australia-China Relations Institute at the University of Technology in Sydney. “Monetary authorities around the word regularly send the same signal in credit and foreign exchange markets.”More from Bloomberg.com: Greek Banks to Open Monday as Next Parliamentary Vote LoomsCSF had 2.5 trillion yuan to 3 trillion yuan of funding available as of this week, with the exact amount constantly changing, the people familiar with the matter said. No comment was immediately available from CSF, while the central bank didn’t respond to a fax seeking comment. Caijing magazine earlier reported that banks had given credit lines of as much as 2 trillion yuan to CSF. http://finance.yahoo.com/news/china-unleashes-483-billion-margin-094313180.html
The Chinese government can't beat the markets. No government can hold the market up forever. History has proven that.